What if the dollar collapses ?

Johnnyguitarwatson

What happens to the average American ?

unsung

Riots, lots of riots.

mickeyrat

unsung wrote:

Riots, lots of riots.

agreed. Unfortunately , we as a nation arent focused enough to start the new american revolution. Which I think is needed.

RFTC

we pay more for shit, goods-services, $ itself.

doomers are predicting a death spiral for fiat currency for some time now, some of their warning signs are coming to fruition. if you have some spare cash and think this is imminent, do investigate precious metals.

snow_board_rider

Dollar wont collapse and if it does I hope you are able to kill your own food.

Bant

Johnnyguitarwatson wrote:

What happens to the average American ?

Not what if, when. It's inevitable. All fiat currencies fail eventually. They are designed to fail.

What happens when it does collapse? Here is someones take...

http://www.youtube.com/watch?v=2N8gJSMoOJc

inlet13

Look to Argentina...

it's coming.

brianlux

Something more real and substantial? A new way of doing things (YES!). Like the good ideas in Kunstler's The Long Emergency, anything by Richard Heinberd, Bill McKibben, Richard Manning, etc.. But only for those not afriad to look into the future and I'm not talking about The Illustrated Man. And no, these are not books full of drivel. Read friends, read and then do something. Speaking of which... gotta go...

PJ88

.

markin ball

What if the government confiscates all the gold again?

RFTC

markin ball wrote:

What if the government confiscates all the gold again?

store it in safe at home, sad but i wouldnt store my pm's at b of a or some other crap institution.

your move now

At some point it will collapse, although not necessarily immediately. The real question is when it does, like really properly does, what does it mean for capitalism?

unsung

Are people finally realizing that the Federal Reserve is the problem?

he still stands

your_move_now wrote:

At some point it will collapse, although not necessarily immediately. The real question is when it does, like really properly does, what does it mean for capitalism?

I think the question should be "what does it mean for state capitalism?" I think capitalism is a misnomer because people think that it is synonymous with "free market," at least in a loosly-defined sort of way.

In reality, the US government (both sides of the aisle) has taken the position that the free market is good for you, but not for me; YOU need to learn lessons of liberty and responsibility for your own financial actions and decisions, but WE need the nanny state to protect us from market discipline... while we rant and rave about the marvels of the free market.

so, I think that what we will see is a dichotomy of state capitalism and the free market, which will lessen the power of the federal government which will no longer be able to bail out banks and corporations, subsidize industry, or enact various forms of protectionism from outside markets. On a macroeconomic level, that means we will get to see how unproductive and imaginary the US economy has become.

On a microeconomic level, it means that things will be shitty for a long time, but I think that's necessary because we live in an imaginary economic world and to rid ourselves of the baggage of our ancestors we will have to go through some tough changes.

On a state level, does the US turn to the UK and other European allies for help... and on that level, sort of a new country with boundaries like in the book 1984? I think this will mean that the government has to show its force and power and strengthen the hand of the police state. what you're seeing on Wall Street the past few weeks will be similar to what is seen in every downtown district in every city in the US. the people who revolt will be called "terrorists" and the anarchist hoard will have to be culled.

...anyway, it will be nice for me to hole up at the family farm with my son for a few decades

inlet13

unsung wrote:

Are people finally realizing that the Federal Reserve is the problem?

I hope so.

Although I wouldn't say the Fed is the sole problem. I'd say Keynesian economics is the sole problem, but agree the primary force practicing Keynesian economics is undoubtedly the Fed. So, yeh, it's the Fed with a touch of crap fiscal policy sprinkled in.

Those pandering for extensions of the nanny state, clearly have no idea what's causing this mess.

polaris_x

RFTC wrote:

we pay more for shit, goods-services, $ itself.

doomers are predicting a death spiral for fiat currency for some time now, some of their warning signs are coming to fruition. if you have some spare cash and think this is imminent, do investigate precious metals.

i honestly don't get this philosophy ... why does anyone want gold? ... i'd much rather collect water purifiers ...

inlet13

polaris_x wrote:

RFTC wrote:

we pay more for shit, goods-services, $ itself.

doomers are predicting a death spiral for fiat currency for some time now, some of their warning signs are coming to fruition. if you have some spare cash and think this is imminent, do investigate precious metals.

i honestly don't get this philosophy ... why does anyone want gold? ... i'd much rather collect water purifiers ...

Gold will buy you water purifiers. In 10 years, when nothing happens (global warming-wise) and you're money is worthless, you could use gold to buy things. That's why it's important.

Stop derailing threads with your global warming crap.

VINNY GOOMBA

polaris_x wrote:

RFTC wrote:

we pay more for shit, goods-services, $ itself.

doomers are predicting a death spiral for fiat currency for some time now, some of their warning signs are coming to fruition. if you have some spare cash and think this is imminent, do investigate precious metals.

i honestly don't get this philosophy ... why does anyone want gold? ... i'd much rather collect water purifiers ...

Historically, gold is money. It was money because it is something of value to people, is rare, cannot be counterfeitted "legally" or otherwise, and is portable. For thousands of years it was used as money by many civilizations for these reasons.

Many believe that the dollar has enjoyed its success because for years it was "as good as gold," meaning that the dollar itself was redeemable for gold. It is currently riding out the momentum of having at least some attachment to gold 40 years ago. The reason it became the world's reserve currency was that it was backed by gold, and was considered safe.

To use another well known expression, the dollar, or really "Federal Reserve Note" is "not worth a Continental." This refers to the first paper currency (The Continental) this country adopted which was inflated to the point of being worthless to finance war. When something was worthless, it was compared to the Continental. The Greenback, given to us by Lincoln also suffered the same fate for the same reasons.

polaris_x

inlet13 wrote:

polaris_x wrote:

RFTC wrote:

we pay more for shit, goods-services, $ itself.

doomers are predicting a death spiral for fiat currency for some time now, some of their warning signs are coming to fruition. if you have some spare cash and think this is imminent, do investigate precious metals.

i honestly don't get this philosophy ... why does anyone want gold? ... i'd much rather collect water purifiers ...

Gold will buy you water purifiers. In 10 years, when nothing happens (global warming-wise) and you're money is worthless, you could use gold to buy things. That's why it's important.

Stop derailing threads with your global warming crap.

i didn't mention global warming nor derail the thread ... you did

polaris_x

VINNY GOOMBA wrote:

Historically, gold is money. It was money because it is something of value to people, is rare, cannot be counterfeitted "legally" or otherwise, and is portable. For thousands of years it was used as money by many civilizations for these reasons.

Many believe that the dollar has enjoyed its success because for years it was "as good as gold," meaning that the dollar itself was redeemable for gold. It is currently riding out the momentum of having at least some attachment to gold 40 years ago. The reason it became the world's reserve currency was that it was backed by gold, and was considered safe.

To use another well known expression, the dollar, or really "Federal Reserve Note" is "not worth a Continental." This refers to the first paper currency (The Continental) this country adopted which was inflated to the point of being worthless to finance war. When something was worthless, it was compared to the Continental. The Greenback, given to us by Lincoln also suffered the same fate for the same reasons.

thanks ... i kinda got it historically speaking ... i'm just not sure if we would go back to that in the future ...

he still stands

this whole gold thing is HILARIOUS. do you really think people will want GOLD when money is worthless and the economy collapses? they will want food, water, shelter, guns, medcine, gasoline, oil, and the like... not gold. If it doesn't get to that point of economic collapse, another currency will be used, but not gold.

VINNY GOOMBA

polaris_x wrote:

RFTC wrote:

we pay more for shit, goods-services, $ itself.

doomers are predicting a death spiral for fiat currency for some time now, some of their warning signs are coming to fruition. if you have some spare cash and think this is imminent, do investigate precious metals.

i honestly don't get this philosophy ... why does anyone want gold? ... i'd much rather collect water purifiers ...

Really though, no one knows for sure what a dollar collapse would bring. But you make a good point with the water purifiers-- it's important to have something of use for sale or otherwise, or to have a useful skill to employ. I mean, that's great advice in any scenario, but would definitely be huge in a completely collapse situation. The question is what would you take in trade for your purifiers or your ability to purify water? Food? Gold? Other services? It would be interesting to see how it all shakes out.

polaris_x

VINNY GOOMBA wrote:

Really though, no one knows for sure what a dollar collapse would bring. But you make a good point with the water purifiers-- it's important to have something of use for sale or otherwise, or to have a useful skill to employ. I mean, that's great advice in any scenario, but would definitely be huge in a completely collapse situation. The question is what would you take in trade for your purifiers or your ability to purify water? Food? Gold? Other services? It would be interesting to see how it all shakes out.

yeah ... like hestillstands said ... i believe we need to learn to grow our own food ... raise our own livestock and learn to butcher and preserve it ... i don't necessarily think we will go that far back into the stone ages ... but i do think we've lost sight of what is critical in this world ... we have guys in suits who trade virtual holdings and make belief promises "earning" millions of dollars but the men/women who put food on our plate can barely get by ...

i personally would trade for practical items like food, building supplies, etc ... i just think if at some point gold is no longer the standard - i can't do much with it ...

VINNY GOOMBA

he still stands wrote:

this whole gold thing is HILARIOUS. do you really think people will want GOLD when money is worthless and the economy collapses? they will want food, water, shelter, guns, medcine, gasoline, oil, and the like... not gold. If it doesn't get to that point of economic collapse, another currency will be used, but not gold.

Sure they will want all of those things. And I'm not even saying gold or silver is the answer, but it's certain one answer for a good chunk of people. Guns, and even more so, ammunition would certainly end up being a very competitive currency I believe.

A collapse of the dollar doesn't mean that MONEY would fail entirely, it just means that Federal Reserve notes have failed. The reality is, that whatever replaces the FRN will actually be something "real" in that it took effort to produce. It may be labor / services, it may be something manufactured, like bullets. It could be old coins containing precious metals. I personally think silver or copper would go a lot farther than gold, and people hold more of it than they think (dimes and quarters pre-1964 are 90% silver, and pennies prior to 1982 are copper -- 1982 pennies currently are worth more melted than their face value, the same is definitely true of silver dimes and quarters). If metals are shunned for things of necessity in the beginning, such as water and gasoline, eventually something more portable is going to replace those items as a means of getting those items.

Lack of true competition in currency is a major reason why the FRN has become worthless. Nothing is keeping it honest.

mikepegg44

he still stands wrote:

this whole gold thing is HILARIOUS. do you really think people will want GOLD when money is worthless and the economy collapses? they will want food, water, shelter, guns, medcine, gasoline, oil, and the like... not gold. If it doesn't get to that point of economic collapse, another currency will be used, but not gold.

People will always have a "currency" to trade. Gold has always been and will always be a universal trading commodity. You can actually trade gold for whatever currency is out there. You may not think people will use gold as a currency to buy smokes, and you are probably right, but you will always be able to get something for it from banks...and there will always be banks. Always.

when I got into gold/silver a few years ago i had no idea how this was going to go...saved my ass that is for sure...the best thing about gold is you can "invest" in it by simply going to garage sales...at least you could before it was 1500 an ounce, getting harder and harder now...

VINNY GOOMBA

polaris_x wrote:

VINNY GOOMBA wrote:

Really though, no one knows for sure what a dollar collapse would bring. But you make a good point with the water purifiers-- it's important to have something of use for sale or otherwise, or to have a useful skill to employ. I mean, that's great advice in any scenario, but would definitely be huge in a completely collapse situation. The question is what would you take in trade for your purifiers or your ability to purify water? Food? Gold? Other services? It would be interesting to see how it all shakes out.

yeah ... like hestillstands said ... i believe we need to learn to grow our own food ... raise our own livestock and learn to butcher and preserve it ... i don't necessarily think we will go that far back into the stone ages ... but i do think we've lost sight of what is critical in this world ... we have guys in suits who trade virtual holdings and make belief promises "earning" millions of dollars but the men/women who put food on our plate can barely get by ...

i personally would trade for practical items like food, building supplies, etc ... i just think if at some point gold is no longer the standard - i can't do much with it ...

It's really NOT the stone age, though. The FRN was tied to gold loosely as recently as 1971. But anyway, I'm not exactly in favor of any one currency to replace the dollar. I say, let it ride. Where I may personally accept gold or silver for trade, you certainly do not have to-- and that to me, is a beautiful thing.

I cannot argue with the need to be self-sustainning. I agree 100%.

I do believe that a currency collapse may be one of the greatest equalizers there is. How important will professional athletes, Wall St. Traders, and movie stars be in this scenario? Certainly NOT as important, and nowhere near the worth of the person growing my food for me.

polaris_x

VINNY GOOMBA wrote:

It's really NOT the stone age, though. The FRN was tied to gold loosely as recently as 1971. But anyway, I'm not exactly in favor of any one currency to replace the dollar. I say, let it ride. Where I may personally accept gold or silver for trade, you certainly do not have to-- and that to me, is a beautiful thing.

I cannot argue with the need to be self-sustainning. I agree 100%.

I do believe that a currency collapse may be one of the greatest equalizers there is. How important will professional athletes, Wall St. Traders, and movie stars be in this scenario? Certainly NOT as important, and nowhere near the worth of the person growing my food for me.

:thumbup:

VINNY GOOMBA

Does anyone else think that Cannabis would be an awesome currency?

It's fairly portable, you can freakin weigh it on your smart phone these days (up to what, a 1/4 oz? anything bigger would need a scale I guess-- or an I-Pad ), people realize that it has worth even if they don't smoke it, because hey, shit loads of people DO, and it takes some effort to produce. There are different grades of it, from dirt to HOLY SHIT.

I'll trade it if you will

Jeanwah

mikepegg44 wrote:

People will always have a "currency" to trade. Gold has always been and will always be a universal trading commodity. You can actually trade gold for whatever currency is out there. You may not think people will use gold as a currency to buy smokes, and you are probably right, but you will always be able to get something for it from banks...and there will always be banks. Always.

The minute our resources are gone, there won't be a currency to trade. Unless you consider food, water and marijuana currency... There won't be any banks when there is no currency either.

mikepegg44

Jeanwah wrote:

mikepegg44 wrote:

People will always have a "currency" to trade. Gold has always been and will always be a universal trading commodity. You can actually trade gold for whatever currency is out there. You may not think people will use gold as a currency to buy smokes, and you are probably right, but you will always be able to get something for it from banks...and there will always be banks. Always.

The minute our resources are gone, there won't be a currency to trade. Unless you consider food, water and marijuana currency... There won't be any banks when there is no currency either.

that was my point, those things will be currency. And there will be "banks" that hold the things that people trade. They may not resemble the banks we have today. Everything will all level out and something else will take the dollars place. People will not immediately revert back to caveman days when the US dollar collapses...

I tell you what, you can come over and take as much water as you want from me now, everyday until the dollar collapses...I am that big a humanitarian... just drop off your useless gold on your way out I will get rid of it for you

Jeanwah

VINNY GOOMBA wrote:

Does anyone else think that Cannabis would be an awesome currency?

It's fairly portable, you can freakin weigh it on your smart phone these days (up to what, a 1/4 oz? anything bigger would need a scale I guess-- or an I-Pad ), people realize that it has worth even if they don't smoke it, because hey, shit loads of people DO, and it takes some effort to produce. There are different grades of it, from dirt to HOLY SHIT.

I'll trade it if you will

Only if you've got the HOLY SHIT to trade!